Council Supports CoverMyMeds LLC Jobs and New Private Investment in Franklinton
City Council votes for Incentives for 1,000
new jobs and more than $100 million new HQ Complex
[Columbus,
OH] On
Monday, July 23, 2018, City Council voted on two strategic incentive programs
for Columbus-based CoverMyMeds to build its new corporate HQ, protect and
retain 592 jobs, and create more than 1,000 net new jobs at a long-time
industrial site in Franklinton.
Councilmember Jaiza Page, chair of the Economic Development
and Small Business Committee, sponsored ordinances 1948-2018 and 1949-2018 to
enter into an Enterprise Zone Agreement and a dual-rate Jobs Growth Incentive
with CoverMyMeds LLC.
“This
legislation keeps a home-grown Columbus company within our city limits and
allows it to grow,” said Councilmember Page. “Investment in our urban core is a
priority.”
CoverMyMeds’
new headquarters campus is expected to support the retention and relocation of
592 existing full-time permanent employment positions with an annual payroll of
more than $43 million. Additionally, the company expects to create more than
1,000 new, permanent, full-time positions with an annual payroll of
approximately $75 million at the project site within the next five years.
“We
appreciate the support of Mayor Ginther and the Columbus City Council as we
move one step closer toward our proposed campus investment. CoverMyMeds has
been involved in Franklinton for many years, and we are hopeful that this
project, if approved, can contribute to the renaissance of an exciting part of
our city and will give back to the community in a unique way,” said
CoverMyMeds Co-Founder and CEO Matt Scantland. “This year we
celebrate 10 years as a business at CoverMyMeds. In that time, we have helped
patients get the medications they need to live healthy lives more than 100
million times, and have been honored to grow from a tiny startup with just a
few employees, to one of the leading technology companies in Ohio.”
"We
appreciate the partnership of CoverMyMeds and Mayor Ginther as this hometown
company continues its impressive growth and invests in Columbus,” said Council
President Shannon Hardin. “As CoverMyMeds builds
its new headquarters in west Franklinton, hundreds of new jobs and
opportunities will be available to the residents of Columbus."
The
new campus will be located along McKinley Avenue west of North Hartford Avenue.
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